ICICI Demat Account is one of the primary products of ICICI Direct which is a part of ICICI Securities Ltd. ICICI Trading Account is one of the popular trading accounts used by investors and traders in the country.
There is an array of services and benefits that this firm offers which help in trading with ease. In this article, you will read about the various benefits of the Demat and trading account of ICICI Direct.
It also mentions the process of opening the accounts and the charges that you will have to pay for availing of the services and maintaining the accounts. Apart from this information, we will also cover some of the primary questions that you ask yourself while choosing a Demat account.
| Summary | |
| Depository Participant | NSDL & CDSL |
| Account Opening Charges | Zero |
| Demat AMC | Rs 300 (from 2nd year) |
| Trading AMC | Rs 0 (Free) |
| Margin Required | 75% Margin |
| Dematerialization Available | No |
What is ICICI Demat Account & its Benefits?
With ICICI Bank Demat Account, there are ample investment options that one can explore. While trading shares or any other investment vehicles be it bonds, mutual funds, ETFs, and others, a Demat account is required.
It is mandatory at present to trade in the electronic format. The shares, bonds, and other investment instruments get stored in this Demat account which is why this is of such importance.
The perks tagged with the Demat account of ICICI Direct are as follows:
- You can get an inbuilt 3-in-1 account which would include the Demat, trading, and bank account from ICICI. It helps in the seamless transaction from three accounts and being in the same network, all these work efficiently without giving any trouble to the trader. It is also safer for your fund transfers.
- You can open a Demat account with ICICI Direct for free. There are no account opening charges.
- You can also invest in the ICICI Lombard general insurance using your Demat account.
- There are multiple options for trading like my GTC for selling limit-based orders and others.
- Through the ICICI Direct portal, you can manage your accounts – Demat and bank account together and keep a check on the same always.
Open Demat Account with ICICI Direct Now! – Fill up the Form
What is ICICI Trading Account & its Benefits?
ICICI Bank Trading Account is one of the most used trading accounts across the share market in India especially if we consider the Bank-based brokerage houses.
The trading account facilitates the investors for placing the order which upon getting executed will Debit or credit shares to or from the Demat account. So, your trading account and Demat account are linked.
You have to place trading orders using the trading platform and the trading account. The trading account is the link between the Demat and the bank account.
You will get some high degree of benefits from a trading account which are as follows –
- There is an abundance of investment options to invest in. This will help you diversify your investment. You can invest in IPOs, mutual funds, equities, GOI Bonds, and many other investment and financial instruments.
- You can trade on NSE and BSE both with the ICICI Direct Trading account.
- The trading platforms work fine on a slow internet connection as well.
You can check the Demat Account details of other Brokers
What are the ICICI Bank Demat Account Charges?
| Charges | |
| Which is the Depository Participant involved? | NSDL & CDSL |
| What are the Demat account opening charges? | Zero |
| How much is the Demat Account AMC? | Rs 300 (from 2nd year) |
| What is the Trading Account AMC? | Rs 0 (Free) |
| What is the initial Margin amount required? | 75% Margin |
| Is there any dematerialization available? | No |
The ICICI Direct Account Opening Charges are not levied by the stock brokerage house. The firm charges zero account opening charges in simple words. So, you can save a lot on the ICICI Demat Account Charges.
The Demat account of the ICICI Direct is under the NSDL and CDSL which are the two major depositories of the country. ICICI Direct doesn’t provide for the dematerialization of the shares which are in the physical format.
Apart from the account opening charges, your margin money in the trading accounts needs to be 75% Margin at any given point in time as that is the minimum margin requirement for trading on the ICICI Direct platforms.
How much is ICICI Direct AMC or Annual Maintenance Charge?
ICICI Direct AMC or the annual maintenance charges are pretty much higher than other stock brokerage houses. They charge a whopping Rs.0 per year for the maintenance of trading accounts.
While for the Demat account, the annual maintenance charges are Rs 300 (from 2nd year) only. While the maintenance charges are higher, the services provided by the firm truly justify these charges. You can expect efficient services from this brokerage house and excellent customer support.
How to Open ICICI Demat Account?
To Open ICICI Demat Account –
- Click on the button which has “OPEN DEMAT ACCOUNT” written on it. You will find the same on this page.
- Fill out the application form that appears on the screen
- Upload the scan copies of the documents that are required for verification –
- PAN Card
- AADHAAR Card
- Canceled Cheque
- Photograph
- Once the ICICI Direct Executives will verify the documents you will receive a mail, where it will be mentioned whether your application has been approved or rejected.
- If the application gets approved, then you will receive the login details for your Demat and trading account with ICICI Direct.
Find out the Demat Account Opening Process of other Brokers
General FAQs on ICICI Direct Demat & Trading Account
Here are the general FAQs of ICICI Direct :
Does ICICI Direct provide a Free Demat A/C offer?
No, there is no free Demat account offer that is provided by ICICI Direct but it provides free account opening.
Does ICICI Direct provide Free Trading A/C offer?
Yes, you don’t need to pay annual maintenance charges for the Trading account, is it free?
Is ICICI Direct offering a Discount on Brokerage?
There is no discount on the brokerage charges provided by the ICICI Direct stock brokerage house.
Does ICICI Direct offer Happy hour trading to their clients?
Yes, there is a Happy Hour offer for the traders by this firm.
Is ICICI Direct providing a flexible brokerage plan?
ICICI Direct does provide multiple flexible brokerage plans which help traders and investors to maximize their profits on trades and investments.
ICICI Demat Account – Conclusion
The ICICI Demat Account which is offered by ICICI Direct, being a part of the ICICI group is a brand in the financial market in the country.
There are multiple benefits that you can avail of by trading on this platform and network. You can reap a lot of profit as well by using their flexible brokerage schemes.
Open Trading Account with ICICI Direct Now! – Fill up the Form
Here are full demat account reviews of other brokers
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